21 day hold of funds, because item was collected!
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hi i sold a boat on ebay for around £1500 the buyer who collected it also inspected and tested it and was happy with his purchase now because i didn't post and get a traking number paypäl have withheld my payment for 21 days, each time iv'e called them they have given different reasons for holding my money, i have been reading hundreds of write ups on google and other sites and the general opinion is paypal are a bunch of scam artists, the yanks are up in arms over them and have taken out a class action against them for millions of dollars and theres thousands of british and europeans in the same boat who are talking class action,they just dont care about all the businesses and peoples lives that they are messing with, i myself will be closeing my account once i eventually recieve my money and when the UK get there class action sorted will be claiming for the interest and all knock-on effect costs they have robbed from me more immediately i am constructing letters for the FCA, PRA and the FOS these are the main UK finance governing agencies, dont be fooled by paypal they are not the philanthropists they claim to be with thier funds holding rules suposedly designed to protect us, yeh B-llocks
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I sell items on Ebay for collection but because they are for collection I do NOT accept paypal.
Ebay allow you to list that sort of item as 'cash on collection' ONLY and you are allowed to refuse paypal payments, if a buyer does pay via paypal when you listed 'collection' only and put in your description cash only then you can refund them and ask them to bring cash with you.
The reason Ebay do that is because there is ZERO seller protection on Paypal for any sort of motor vehicle, your buyer could now file a chargeback and get his money back as you do not have seller protection.
You could have had cash in hand / no paypal fee / instant payment / no risk of a chargeback if you had just accepted cash.
Advice is voluntary.
Kudos / Solution appreciated.
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You cannot stop a buyer from paying by pay-pal. You can ask for cash, but cannot insist upon it. I put cash on collection, but when my buyer tuned up they insisted on paying by pal-pal. It would have been embarrassing to have got into an argument, so I felt forced to accept, especially as he had hired a van to take away the shed. I now have to wait 21 days and risk the buyer demanding a refund, even though he has told me he is happy with the item. I cannot speed up the release of my money until he gives positive FB. Supposing he doesn't? Many buyers don't bother. I had an old acocount that had about 900 FB+ but it should have been over 1300, if everyone had bothered to leave FB. This new policy leaves sellers exposed. I am fed up with hearing the excuse, it's buyers money. It is MY goods that are worth that amount! Without sellers, there would be no ebay. I will not be selling on here again. Plenty of other ways to sell without all this nonsense. Once the buyer has the goods, the money should be MINE not Pay-Pals!
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Ebay does allow you to refuse paypal payments, I just issue a refund with an apology and re-ask for cash on collection, never met a buyer yet that minded.
Also your buyer can now file a dispute for non receipt of item and as you can't provide a tracking number you may well lose.
Lastly feedback does not count for payment release so you would now have to wait 21 days.
Advice is voluntary.
Kudos / Solution appreciated.
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I have CCTV to prove he took the item, so no worries there. Ebay and Pay-pal have agreed to lift the 21 day hold because I received positive feedback and it was not possible to have a tracking number for this item.
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